British govt under pressure to provide relief to people amidst rising inflation

ISLAMABAD, Aug 09 (Alliance News): Britain’s government is under pressure to urgently come up with plans to support families amid a rising inflation crisis, while leading business groups and a former prime minister say the political vacuum cannot be allowed to last much longer. .

According to foreign media report, the Bank of England last week warned that signs of a prolonged economic downturn and unemployment are being seen as energy prices rise to unprecedented levels, while inflation hit 9.4% in June with 40%. has reached the highest level of the year due to which many families are on the verge of financial difficulties.

But the political response to the issue has been stymied by the ongoing struggle to replace Boris Johnson as prime minister, who has been forced to resign amid various scandals, while he remains in office, currently on leave. And his successor will not be announced until September 5.

Former Labor Prime Minister Gordon Brown and the Confederation of British Industry (CBI) say the country cannot afford to wait any longer for a new leader, with energy prices expected to rise by another 70% in October. Actions are needed now.

Gordon Brown, the country’s finance minister for 10 years from 1997 and prime minister from 2007 to 2010 during the economic crisis, said many households were facing an economic time bomb.

Speaking to LBC radio, he said, “Take action this week and deal with these issues immediately, which are like national emergencies. You can’t wait until there’s a crisis in October and then Say you’re surprised.

British energy regulator Ofgem will announce prices for local domestic consumers on August 26.

CBI Director General Tony Denkar said in a statement that we cannot afford government inaction while things slow down after the election of a new prime minister and the formation of a new cabinet.

A spokesman for Boris Johnson said it was up to the next British leader to decide whether more help was needed, while the current government had already drawn up a funding package to help people this winter.

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